Can an applicant for an interim order for costs under s. 7(4) of the Companies Act, s.7(4), be impecunious?
Nova Scotia, Canada
The following excerpt is from Giffin v. Soontiens, 2010 NSSC 438 (CanLII):
Further, an applicant may be unable to fund a lawsuit as his financial resources are tied up in the company that is subject of the litigation (as was the case in Wilson v. Conley, supra.) In those circumstances, a plaintiff may not qualify as truly impecunious but he is, in my view, able to advance a claim pursuant to s. 7(4) of the Third Schedule of the Companies Act. The issue is whether his financial circumstances will prevent him from advancing a meritorious claim if an interim order for costs is not granted.
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